President of NovaDius Wealth Management Nate Geraci continues to assert that investment firm BlackRock will file for ETFs for XRP and Solana cryptocurrencies.
Nate Geraci's Predictions on BlackRock
Nate Geraci states that BlackRock cannot ignore XRP and Solana as these cryptocurrencies occupy positions in the top five by market capitalization. XRP is valued at $173.4 billion, while Solana is at $90.3 billion.
Competition in the ETF Market
Currently, the largest player to file for an XRP ETF is Franklin Templeton, with $1.53 trillion in assets. Fidelity Investments, managing $6 trillion, also filed for a Solana ETF in March.
SEC's Focus on Ripple
Geraci believes that if BlackRock does not file for the XRP and Solana ETFs, it may signal to investors that there will only be two winners. He also notes that the SEC continues to monitor Ripple's case, which is expected to conclude in August, when the SEC must report to the Second Circuit Court of Appeals.
Nate Geraci's conclusions highlight the importance of observing BlackRock's and SEC's actions regarding the development of the cryptocurrency market and ETFs.
